My hon. Friend is right. The debt interest payments would have increased to £180 million a day if we had not pursued our current policies. That became one of the largest Budget items under the Labour Government. Deficit reduction has avoided the interest payments that we would have had under Labour.
The Economy
Proceeding contribution from
George Osborne
(Conservative)
in the House of Commons on Wednesday, 22 June 2011.
It occurred during Opposition day on The Economy.
Type
Proceeding contribution
Reference
530 c355
Session
2010-12
Chamber / Committee
House of Commons chamber
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Timestamp
2023-12-15 16:48:59 +0000
URI
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